Carrefour Drops $2.75B To Launch Shopping Mall Venture

Law360, New York (December 16, 2013, 2:45 PM EST) -- French retail giant Carrefour SA said Monday that it has agreed to purchase 127 shopping malls from Klepierre for €2.0 billion ($2.75 billion) as part of its plan to create a new mall-operating company.

Carrefour said the new acquisition includes 127 sites in France, Spain and Italy with annual rental income of approximately €135 million. The plan is to combine these new acquisitions with the 45 shopping malls Carrefour already owns in France valued at about €700 million and annual rental income of about €45 million,...
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